Eagle Global Advisors LLC Buys 95,200 Shares of The Coca-Cola Company (NYSE:KO)

Eagle Global Advisors LLC raised its position in shares of The Coca-Cola Company (NYSE:KO) by 368.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 121,008 shares of the company’s stock after acquiring an additional 95,200 shares during the period. Eagle Global Advisors LLC’s holdings in Coca-Cola were worth $7,534,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crowley Wealth Management Inc. bought a new position in Coca-Cola during the 4th quarter valued at about $27,000. Mainstream Capital Management LLC bought a new position in shares of Coca-Cola during the fourth quarter valued at approximately $31,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Coca-Cola in the fourth quarter worth approximately $37,000. Murphy & Mullick Capital Management Corp bought a new stake in shares of Coca-Cola during the 4th quarter worth approximately $38,000. Finally, Hoey Investments Inc. boosted its holdings in Coca-Cola by 41.9% during the 4th quarter. Hoey Investments Inc. now owns 613 shares of the company’s stock valued at $38,000 after acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 70.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on KO. Barclays reiterated an “overweight” rating on shares of Coca-Cola in a research report on Thursday, March 27th. Piper Sandler lifted their price objective on shares of Coca-Cola from $73.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, February 28th. TD Cowen raised shares of Coca-Cola from a “hold” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Wednesday, January 8th. Wells Fargo & Company raised their price objective on Coca-Cola from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. raised their price target on Coca-Cola from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Coca-Cola currently has an average rating of “Buy” and a consensus price target of $75.59.

Insider Buying and Selling at Coca-Cola

In other Coca-Cola news, insider Bruno Pietracci sold 19,058 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $70.56, for a total value of $1,344,732.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lisa Chang sold 13,445 shares of the business’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $71.50, for a total transaction of $961,317.50. Following the completion of the transaction, the executive vice president now owns 94,676 shares of the company’s stock, valued at approximately $6,769,334. This represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 313,423 shares of company stock worth $22,263,071. Company insiders own 0.97% of the company’s stock.

Coca-Cola Stock Performance

Shares of KO opened at $71.78 on Wednesday. The stock has a fifty day moving average price of $70.94 and a 200-day moving average price of $66.59. The Coca-Cola Company has a 12 month low of $60.62 and a 12 month high of $74.38. The firm has a market cap of $308.90 billion, a PE ratio of 29.06, a P/E/G ratio of 3.79 and a beta of 0.47. The company has a current ratio of 1.03, a quick ratio of 0.84 and a debt-to-equity ratio of 1.61.

Coca-Cola (NYSE:KO) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Coca-Cola had a net margin of 22.59% and a return on equity of 45.37%. The business had revenue of $11.13 billion for the quarter, compared to analyst estimates of $11.23 billion. During the same quarter in the prior year, the business posted $0.72 EPS. Coca-Cola’s revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts predict that The Coca-Cola Company will post 2.96 earnings per share for the current fiscal year.

Coca-Cola Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Friday, June 13th. Coca-Cola’s dividend payout ratio (DPR) is 81.60%.

About Coca-Cola

The Coca-Cola Company, a beverage company, manufactures, markets, and sells various nonalcoholic beverages worldwide. The company provides sparkling soft drinks, sparkling flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers, such as restaurants and convenience stores.